Bulletin – September 2011 Recent Trends in Counterfeiting Abstract

Under the Reserve Bank Act 1959, the Reserve Bank has sole authority to issue banknotes in Australia. As such, a key responsibility of the Reserve Bank is to maintain public confidence in banknotes, so that they remain an effective payment mechanism and a secure store of wealth. This article examines how counterfeiting can impact on this confidence, and counterfeiting trends in Australia and overseas. The article also discusses the strategies the Reserve Bank employs to minimise the risks of counterfeiting and maintain public confidence in banknotes.

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